tyb/s
Bitcoin Blasts-Off, Bonds & Bullion Bounce, But Dow Dumps(hardly call that a dump) On Boots Bust
The Jaws of death between bonds and stocks has never widened so fast.
(cap4 is basically saying if you are positioned one either one of these trades your risk level is very high)
China was flat to modestly lower overnight.
European stocks extended gains led by UK's FTSE (and Italy unch on the day).
Mixed bag in US equities with Dow underperforming thanks to Walgreen Boots, Nasdaq extending yesterday's gains, S&P unch, and Trannies and Small Caps in the red.
Walgreens Boots plunged over 13% - its biggest drop since Aug 2014 to its lowest since Oct 2013…and accounted for the bulk of Dow losses today.
Treasury yields reversed some of yesterday's surge higher with the belly outperforming.
10Y broke back below 2.50%.
The yield curve remains non-inverted in 3m10Y but flattened notably on the day.
NOTE - the curve traded all the way back up to pre-FOMC levels before flushing.
The Bloomberg Dollar Index broke above the key 1200 level once again… and reversed once again.
Just after midnight ET, Cryptos were suddenly panic-bid and while some suggested this was driven by April Fools' headlines about Bitcoin ETFs, that has been widely disregarded as the extended gains during the day session suggest two larger buyers.
rest at link
https://www.zerohedge.com/news/2019-04-02/bitcoin-blasts-bonds-bullion-bounce-dow-dumps-boots-bust
The volumes are still well below average and the daily averages are dropping because this has gone on for an entire qtr (or moar in case of SP500)
See cap 3 for the now all too apparent action on the close. Every. Single.Day.
Painting the Tape
What Is Painting the Tape?
Painting the tape is a form of market manipulation whereby market players attempt to influence the price of a security by buying and selling it among themselves to create the appearance of substantial trading activity.
https://www.investopedia.com/terms/p/paintingthetape.asp